x

SAHCO Records N11 Billion Revenue in 2022, Plans for Continued Growth

Skyway Aviation Handling Company (SAHCO) has reported a substantial increase in revenue, with a growth of 28% from N8.6 billion in the previous year to N11.1 billion in 2022.

According to SAHCO’s audited financial results for 2022, pre-tax profit rose by 14.69% to N4.37 billion, compared to N3.81 billion recorded in 2021.

The SAHCO board has approved a dividend of 16.50k per ordinary share of 50k to its shareholders, amounting to N223 million, the same dividend paid in the previous financial year.

During the period under review, SAHCO’s total assets improved by 18.74% to N29.22 billion, demonstrating significant growth compared to N24.61 billion in 2021.

Speaking at the 13th Annual General Meeting held in Lagos, the Chairman of SAHCO, Dr. Taiwo Afolabi, highlighted the company’s substantial investments made in the year to enhance its capacity to serve clients. These investments included the acquisition of modern equipment, provision of new facilities, and capacity development for staff and board members.

Dr. Afolabi also shared that the company’s financial report for Q1 2023 indicated a positive growth trajectory, expressing confidence in achieving even greater success in the next financial year.

He stated, “Our first quarter financial year result has shown that we are making more money. So, we will surprise them by next year and maybe double whatever we are giving them this year. We are confident that this is going to happen in the next financial year.”

Hot this week

Match fixtures

Scottish Championship16:00 CEST ArbroathvSt Johnstone 16:00 CEST AyrvMorton 16:00 CEST PartickvRoss...

MRA Condemns INEC’s N1.5bn Fee for Voters Register Under FOI Act

By Achadu Gabriel, KadunaThe Independent National Electoral Commission (INEC)...

Wike Assures 12-Month Completion of Nigerian Law School Hostel

By Joyce Remi-BabayejuThe FCT Minister Barr. Nysome Wike...

BREAKING: Senate Begins Screening of INEC Chairman-Designate, Prof. Joash Amupitan

The Senate has commenced the screening and confirmation process...

Kogi Electoral Law Aligns with INEC Act for Credible 2026 LG Polls – Mamman Eri

By Noah Ocheni, LokojaThe Chairman of the Kogi State...

Kogi State Polytechnic Urges Prosecution of Staff Over Alleged Salary Fraud

By Noah Ocheni, LokojaThe Management of Kogi State Polytechnic,...

North Central Development Commission Condoles with Senator Abba Moro Over Death of Son, Grandson

By Abel Zwanke, LafiaThe Managing Director and Chief Executive...

Outcry as WhatsApp Bans Nigerian Journalist’s MTN Line Without Warning or Clear Reason

By Achadu Gabriel, KadunaThere has been widespread outrage following...

KOSIEC Announces 2026 Local Government Council Elections in Kogi State

By Noah Ocheni, LokojaThe Kogi State Independent Electoral Commission...

KADMAM Advocates Improved Maternal Health, Declares “No Child Should Die at Birth”

By Achadu Gabriel, KadunaThe Co-chairman of the Kaduna Maternal...

Evaluation of Nigeria’s Foreign Policy in the Contemporary Era

By Daudu Agaba Andrew SamuelNigeria’s foreign policy has long...

Related Articles

Popular Categories

spot_imgspot_img